Bitcoin just had a nice up move, so I assume we just started a new uptrend cycle. On the chart we can see a newly formed bull flag, but sure enough it cant go up forever. We need some support and retracement before we can move up again. Last time we had a dip on April 6 and it then perfectly returned into the black channel. Then we had another dip and it followed...
I didnt like when it started falling. but now I'll be looking to add ETH to my portfolio. The thing is, it has perfectly retraced to support line and gracefully bounced off it. What the hell else do you need to be bullish on it? It was inflated a few months ago without any real support, but this support line looks beautiful right now. And one more thing. since btc...
I think we are good for now. bounce off the bottom at 0.225 now its time to start a new wave. I predicted we should go up earlier. but it has been in correction since the ATH, well it cant go down forever though. On a larger scale, the chart still remain very bullish since November and shows a clear direction using elliot waves. Other coins maybe pumping hard...
BTC is struggling to break cyan resistance line. We might be witnessing a possible reversal at the 144 fibo time zone, also RSI was recently oversold. It has already formed a tripple bottom earlier, piercing the bb bands, which sent it lower, but it was stopped by the bottom of the flag. Now it has formed the same pattern again but this time it's already at the...
I'm still bearish overall, waiting for a big drop.
I may be imagining things, but to me it really looks like a bear flag , similar to that on 2018-04-04 and others. Anyway I've posted my targets. The purple line btw 0.98% is drawn from the ATH using a 15 minute chart.
Based on a minimum bear flag, most likely we are soon to test 6440, possibly lower depending on the speed of the breakdown.
I dont usually use elliot waves but this one looks really legit. The points I posted seem to correspond perfectly with RSI as well. If you do have more experience with elliot please comment if I got it right.
The first breakout no one expected. There was a huge volume and the price moved so much and so quickly. Then there was a second up move with a similar volume, the price did move up but this move was a bit smaller. The third large move was after the fake triangle break out, this one has a smaller effect on the market. Shortly thereafter there was a 4th buy with...
We are still making lower highs, so this new triangle can easily break down. Be ready to short. Stop: 7080 Limit: 6666.66 Entry: up to you
We've just confirmed overhead resistance line with 3 touches. Now we will be testing the bottom of this triangle. Break out is very likely to send us to 6,666.66 Longer term target is around 5.3
IF YOU THINK THIS IS A BREAK OUT YOU LEARNED NOTHING
Expect sharp pullback when we bounce from the bottom of the falling wedge. This pullback could be huge as when we had on Feb 6. It could signify the end of correction as well. Remember February. Analysts were calling 5k, so here we come. The trading strategy is as follows, buy when it hits the bottom of the falling wedge. Then see what happens, if it keeps...
I think it's clear now that bitcoin had a falling wedge breakout. And we've just confirmed a bullish flag too.
This chart shows trend reversal from bearish to bullish. Notice the sad faces and happy faces on the graph.
Looking at the daily bollinger width indicator, it shows that the volatility of bitcoin has been increasing since the end of 2016. This suggests that we may see more parabolic moves in the future. Which way though, ask you? - but that BB%W cannot tell!
Yes I know it just dropped from 8.5 but... We have all signs of possible reversal. I don't really like to call out bottoms, because that nobody really knows, but I do see the possibility. 1. There is a big falling wedge. 2. RSI was severely oversold. 3. MACD graph has a support, and the waves are becoming smaller, which could also suggest that the market is more...